Enterprise Rent-A-Car to Acquire Vanguard Car Rental
ST. LOUIS--Enterprise Rent-A-Car has entered into a definitive agreement to purchase Vanguard Car Rental Group Inc. This transaction between two privately held companies is expected to close in the third or fourth quarter of 2007, contingent upon clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act and other customary closing conditions.
The acquisition will join two rental car companies with very complementary businesses. St. Louis-based Enterprise's primary strength lies in the in-town and insurance replacement segments of the industry. Vanguard, based in Tulsa, operates the National Car Rental and Alamo Rent A Car brands, which serve the airport segment of the market. Capitalizing on the companies' assets in these different segments will allow for more efficient fleet utilization and enhance the combined companies' ability to offer low prices and quality service to all customers.
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